Subscribe now and watch my free trend following VIDEO.

Blog

Ep. 605: Mark Kritzman Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Mark Kritzman
Mark Kritzman

Subscribe to Trend Following Radio on iTunes

My guest today is Mark Kritzman, a Senior Lecturer in Finance at the MIT Sloan School of Management, founding Partner and Chief Executive Officer of Windham Capital Management and serves as a senior partner of State Street Associates. Mark has written six books, his latest titled “A Practitioners Guide to Asset Allocation”. Mark began his career on Wall Street in 1974 and was immediately drawn toward systematic trading. At a time when there were not many quantitative traders, he was affectionately titled a “token quant” within his company. Over the years Mark has been an advisor to many funds.

The topic is his book A Practitioner’s Guide to Asset Allocation.

In this episode of Trend Following Radio we discuss:

  • Definition of an asset class
  • Actively managed portfolios
  • Passively managed portfolios
  • Time diversification
  • Portfolio diversification
  • The fallacy of large numbers
  • Leverage
  • Value at risk
  • Risk management
  • Fear and greed
  • Risk and reward
  • Exposure to risk

“Time does not diversify risk.” – Mark Kritzman

“If we just step back, start with the basics and move on from there, that introduces comfort to the investment process.” – Mark Kritzman

Mentions & Resources:

Listen to this episode:

Jump in!

“Your book opened my eyes. Thank God for that.”

Posted on by Michael Covel

Listener: Recently, I read three books you have written about Trend Following. Primarily, I am a value investor, but your book opened my eyes. Thank God for that. I am not saying value investing does not work but trend following is perhaps more important.

Thank you very much for having written your splendid books and educating me on Trend Following.

Covel: Thanks [Name]!

Listener: You are welcome Mr. Covel. I have actually bought another one of your books, Trend Commandments. It is very good. I am always surprised at people’s dating and money making strategy and how convinced they are that they have it right even if they are not getting results. To quote John Maynard Keynes who said “When the facts change, I change my mind. What do you do Sir?”. Unfortunately, people rarely change their mind.

I am surprised you don’t have higher book sales than you have presently. Your books are probably some of the most important works on investing I have read in the last few years. People are lemmings and they’ll easily forgo pots of gold if it means that they’ve stand out of the crowd. I am following you on Twitter now.

Covel: Thanks for the nice words! But I have sold over 200,000 books. My Turtle book is #3000 out of 10 million books on amazon right now. So actually some of best investing sales around.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

“Psychology beats business training when it comes to entrepreneurship…”

Posted on by Michael Covel

Feedback in:

Wish they had more detailed results: read.

“…entrepreneurship, or at least some mental habits useful for it, can indeed be taught. More surprising was how poorly the conventional training performed: as far as the researchers could tell, it had no effect at all. Budding entrepreneurs might want to avoid the business shelves and make for the psychology section.”

Best,
[Name]

Thanks!

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 604: Mega Decision-Making Episode with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Mega Decision-Making Episode with Michael Covel on Trend Following Radio
Mega Decision-Making Episode with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Mega Decision-Making Episode with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

In this episode of Trend Following Radio we discuss:

  • Aversion to negotiation
  • Negotiating skills
  • Never pretend people are rational
  • Business negotiations compared to hostage negotiations
  • Lying three times
  • “How” and “Why” questions
  • What are superforecasters?
  • Probabilistic thinking
  • Looking at data
  • Location independence
  • 80/20 rule
  • Known knowns, known unknowns, and unknown unknowns
  • Uncertainty
  • How to publish a book

Mentions & Resources:

Listen to this episode:

Want to learn more Trend Following? Watch my video here.

Jesse Livermore: Reminiscences of a Stock Operator

Posted on by Michael Covel
Jesse Livermore
Jesse Livermore

Jesse Livermore’s bio ‘Reminiscences of a Stock Operator’ is always good reading (PDF).

Excerpts:

“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.”

“Another lesson I learned early is that there is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I’ve never forgotten that.”

“You watch the market — that is, the course of prices as recorded by the tape with one object: to determine the direction. Prices, we know, will move either up or down according to the resistance they encounter. For purposes of easy explanation we will say that prices, like everything else, move along the line of least resistance. They will do whatever comes easiest, therefore they will go up if there is less resistance to an advance than to a decline; and vice versa.”

“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.”

Jesse Livermore Books:

• How to Trade in Stocks (PDF)
• Reminiscences of a Stock Operator (PDF)

More on the Jesse Livermore Legacy 

Jesse Livermore
Jesse Livermore

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

“I am addicted to your podcast…”

Posted on by Michael Covel

Feedback in:

Michael,

I am addicted to your podcast because it is so much more than “trend following”, as the real trend is not in the stock market or any financial market, but in lifestyle and how we interact with those around us.

I am currently listening to your podcast Episode 600 interview with Roger Ver, and it keeps bringing me back to [Name] of The [Name] Podcast. He has a unique and valuable perspective on the economy, especially regarding the political landscape. I would Love for you to have him on your show, as he is a strong libertarian/anarchist but has thought through concepts deeply and is willing to say “I don’t know”. Much like how you communicate that “trend-following” is much more than a trading strategy, he has taught that “permaculture” systems can be applied to all aspects of life, much more than just planting a garden.

Thanks for your valuable podcast and perspective.

[Name] in Pittsburgh, PA

Thanks!

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 603: Frank Ostaseski Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Frank Ostaseski
Frank Ostaseski

Subscribe to Trend Following Radio on iTunes

My guest today is Frank Ostaseski. He has dedicated his life to helping others. He is co-founder of the Zen Hospice Project and founder of the Metta Institute. Frank is a Buddhist teacher, international lecturer and expert on the end-of-life experience. His work spans from helping the homeless to the wealthy to the young and to the elderly have an easier transition to the other side. Frank loves what he does because of how “real” the experience of death is. His new book is The Five Invitations: Discovering What Death Can Teach Us About Living Fully.

The topic is his book The Five Invitations: Discovering What Death Can Teach Us About Living Fully.

In this episode of Trend Following Radio we discuss:

  • The territory of mystery
  • The inevitability and intimacy of dying
  • How saying goodbye at a party relates to saying goodbye when dying
  • Importance of human connection
  • Don’t wait
  • The reality of constant change
  • Openness during the travel experience
  • Trusting our intuition
  • Common humanity
  • Resting in the middle of activity
  • Discovering the truth
  • Stoicism

“One of the most beautiful human qualities that we undervalue is our vulnerability.” – Frank Ostaseski

Mentions & Resources:

Listen to this episode:

Jump in!